UY Scuti Acquisition Corp. Reports $783,344 Net Income for Fiscal Year Ended March 31, 2026

UY Scuti Acquisition Corp. reported a net income of $783,344 for the fiscal year ended March 31, 2026. This income was primarily driven by $2,197,604 in interest earned on funds held in the trust account, which was partially offset by operating costs totaling $1,414,260. In contrast, for the fiscal year ended March 31, 2025, the company incurred a net loss of $156,520, solely due to formation and operating costs. The company has not generated any operating revenues to date, as its activities have been limited to organizational efforts and the search for an initial business combination.

Significant developments during the fiscal year included the company's Extraordinary General Meeting on March 31, 2026. At this meeting, shareholders approved amendments to the company's Memorandum and Articles of Association and its Investment Management Trust Agreement. These amendments extend the deadline for completing a business combination up to April 1, 2027, with the sponsor or its designees required to deposit $450,000 into the trust account for each three-month extension period. Following these approvals, 2,437,288 ordinary shares were redeemed, resulting in approximately $25,302,078 being removed from the trust account, leaving $34,390,068.

In terms of strategic developments, UY Scuti Acquisition Corp. entered into a Merger Agreement on July 18, 2025, with Isdera Group Limited for a business combination. This agreement outlines a merger structure where UY Scuti will merge with a newly formed subsidiary, and subsequently, a merger sub will merge with Isdera Group, resulting in UY Scuti acquiring 100% of Isdera Group's equity. The agreed-upon net value of Isdera Group for this transaction is $1,000,000,000. Additionally, the company amended its Sponsor Note on March 31, 2026, extending the maturity date to March 31, 2027, or the consummation of a business combination.

Operationally, the company's primary focus remains on identifying and evaluating potential acquisition targets. As of March 31, 2026, the company held $8,846 in cash and cash equivalents outside of the trust account, with a working capital deficit of $1,052,099 and a shareholders' deficit of $1,036,501. The company has relied on its sponsor and other parties for funding its operations. The company has not yet identified a specific target business for its initial business combination.

Looking ahead, UY Scuti Acquisition Corp. anticipates continued expenses related to its public company status and the pursuit of a business combination. The company's ability to continue as a going concern is subject to its success in completing an initial business combination within the extended timeframe. If a business combination is not completed by April 1, 2027, the company will be required to redeem its public shares and liquidate. The company's management believes it has sufficient funds for its working capital needs until at least one year from the issuance date of its financial statements, but acknowledges the substantial doubt raised by the potential need for liquidation.